Big news coming from Varese, Italy today, as MV Agusta announced that is has secured funding for a new five-year business plan.
The Italian brand is also announcing some changes in its top leadership, most notable of which is Giovanni Castiglioni pivoting into an advisory position.
The new business plan sees MV Agusta targeting a yearly sales goal of 25,000 motorcycle, with a focus on new premium and mid-sized motorcycles.
Starting this year and working through 2021, the business plan calls for strong investment in MV Agusta’s global distribution network, with a focus on the United States, Europe, and Asia.
“Over the next five years, MV Agusta’s attention will be focused on developing the sales and service network, while investing in product development and maintaining its efforts in digitalization and technological innovation,” said MV Agusta CEO & Chairman Timor Sardarov.
“We are committed to deliver the best products and continue to be a benchmark in motorcycle industry in quality, design and technology. Finally MV Agusta has all the tools to do so.”
“Together with the management, we are working diligently to execute the business plan and achieve our objectives which will require an increase of personnel and dedication from all at every level of the company. This will also positively impact the local community in terms of employment and benefit the Varese-area related industries.”
As one might expect, the funding for this plan comes from the Sardarov family, with Timur Sardarov taking over as Chairman of the Board and CEO back in December 2018. He is now joined on the leadership team by Massimo Bordi and Paolo Bettin.
No stranger to the workings of MV Agusta and building motorcycles, Massimo Bordi will take on the mantle of Executive Vice Chairman. The father of the four-valve water-cooled desmodromic motor for Ducati, Bordi has also previously worked as the General Manager of MV Agusta and Cagiva during the Claudio Castiglioni years.
Of note as well, Paolo Bettin will take on the role of CFO, and bring with him to the Italian brand his lengthy experience as financial officer.
The big news though is the funding that comes from the Sardarov family, which MV Agusta says will fuel its plans for the next five years.
With this money not only helping MV Agusta reach sustainable goals, the news also does much to allay fears about MV Agusta’s future – not only with consumers, but also with suppliers and other industry entities.
For American two-wheeled enthusiasts, the news that MV Agusta will be refocusing its efforts in the United States is welcomed talk. Now, hopefully we will being to see the fruits of MV Agusta’s actions.
Source: MV Agusta
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